Performance Fees
Perf fees are one of UpBots core innovations and how we aim to create an ecosystem that rewards everyone for success. Below is an explanation of how they work.
1. What are performance fees?
When UpBots users rent Algo bots or use copy trading strategies that demonstrate winning results, they'll accrue performance fees on the successful trades. Performance fees act as an incentive for algo developers and traders to produce high-quality trading algorithms and strategies.
Performance fees help us to maintain a stable ecosystem on the UpBots platform. A rough breakdown of the total fees you may pay on winning strategies:
So the performance fees range from 10.5% to 25% considering that :
6,5% goes to UpBots
2% to 9.25% goes to the Algo Dev / service provider
1% to 4.625% goes to the Performance Fees Pool
1% to 4.625% are burned
2. Access algos thanks to MBXN
Users can deposit MBXN tokens into their provided on-platform MBXN wallet in order to activate algo bots, pay for trading courses, signals, and other platform services.
By depositing MBXN to your UpBots in-app MBXN wallet address it then becomes possible to unlock and assign MBXN to Algo bots and thus begin automated trading with them. Currently the only algo bots that cannot be accessed this way are community bots such has Avax, for these MBXN staking is required.
Currently in the in-app MBXN wallet support ERC-20 MBXN & BEP-20, via BSC.
3. How it works?
It's pretty simple. Once a trade is closed, the platform will see if you have made a profit. In case you are in profit, a % of the amount earned will be converted into MBXN, and this amount will be deducted from your balance to be distributed to the developer algo, the staking pool, etc...
4. What happens if there is a loss?
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